Association Of Independent Kentucy College And Universities Inc is located in Frankfort, KY. The organization was established in 1919. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2023, Association Of Independent Kentucy College And Universities Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association Of Independent Kentucy College And Universities Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Association Of Independent Kentucy College And Universities Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $1.4m during the year ending 06/2023. While expenses have increased by 4.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
A CONSORTIUM OF REGIONALLY ACCREDITED, PRIVATELY FUNDED, ACADEMIC INSTITUTIONS IN KENTUCKY
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCT THE COOPERATIVE EDUCATIONAL PROGRAMS OF THE INDEPENDENT KENTUCKY COLLEGES AND UNIVERSITIES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Krista Hudson VP Of Financ | Officer | 40 | $147,738 |
Mason Dyer President | Officer | 40 | $145,408 |
Onyejindu Oleka Former Presi | Officer | 40 | $76,696 |
Dr Terry Allcorn Director | Trustee | 2 | $0 |
Dr Rosemary Allen Director | Trustee | 2 | $0 |
Dr Kevin Brown Director | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $509,020 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $237,600 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $746,620 |
Total Program Service Revenue | $268,831 |
Investment income | $5,876 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$6,157 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,015,170 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $618,903 |
Compensation of current officers, directors, key employees. | $369,842 |
Compensation of current officers, directors, key employees. | $129,445 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $112,311 |
Pension plan accruals and contributions | $45,255 |
Other employee benefits | $45,409 |
Payroll taxes | $36,351 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $43,210 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $400 |
Office expenses | $14,468 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $4,025 |
Travel | $22,362 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,142 |
Insurance | $15,556 |
All other expenses | $4,322 |
Total functional expenses | $1,396,650 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $629,498 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $45,010 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $52,153 |
Net Land, buildings, and equipment | $1,020 |
Investments—publicly traded securities | $315,098 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,609,589 |
Total assets | $2,652,368 |
Accounts payable and accrued expenses | $2,693 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $88,531 |
Total liabilities | $91,224 |
Net assets without donor restrictions | $2,033,653 |
Net assets with donor restrictions | $527,491 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $2,652,368 |